Category: Post Market Analysis

Today’s Market Summarised

Nifty opened the day at 11,856, with a slight gap-up from yesterday’s close. Just before the RBI policy meet, Nifty went into red for a while but took support at 11,800 and strongly came back. The policies adopted by the Reserve Bank were received well by the market, and Nifty jumped up to 11,930 in 2 hours. After consolidating, Nifty closed the day at a high of 11,914.20, up 79.60 points or 0.67%.

Bank Nifty opened the day at 23,313 and went down to take support at 23,100. The RBI policy meet was especially good for banks and financial services companies, and this was clearly reflected in the movement of the index of banks. The index took resistance near 23,800 and consolidated but after 2pm went up again to consolidate near 23,900. Bank Nifty closed at 23,846.80, upto 655 points or 2.83%. PSU Banks especially lead the charge.

Bank Nifty was the top gaining sector today, as we talked about. PSU Banks moved more than Private Banks. Nifty Realty and Nifty Pharma were the worst performing.

European markets are mostly trading in green at the time of Indian markets close. Asian markets closed mostly in red for the day.

News Picks

Wipro became the top-gaining stock in Nifty 50, once again. Shares jumped up 4.40% to Rs 375.25. Similar to yesterday, this movement largely came after the news of the company’s board considering a buyback of shares.

The Reserve Bank of India decided to keep the repo rates unchanged, along with announcing new plans to buy bonds from the open market. Banking stocks took the remaining 4 spots for top-gainers of the day. ICICI Bank, Axis Bank, SBI and HDFC Bank featured on the list. Very interesting day indeed. We will be writing an in-depth article on today’s policy meet, soon.

Shares of Majesco closed at Rs 876, up 3.32%. Check out this article to learn about this company. Last day, the business had announced a buyback, similar to that of TCS.

Pharma stocks have started falling as the rupee is getting stronger day-by-day. Can watch this sector more. Can watch for a similar fall in IT stocks, as well, if Rupee continues to get stronger vs the dollar.

Markets Ahead

Nifty is making higher highs, and it looks like 12,000 is the next mark. Banks are quickly recovering and can be watched for good movement even in the coming days. Banks are moving up and up. This week, Nifty jumped 4% and it is nearly 2% away from turning positive for this year!

For perspective, currently Nifty is up 6% from where it was on 9 June 2019. Yes, only the high made in 2020 is the next step.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty opened the day at 11,841 with another huge gap-up and went up slowly over the day. The index faced resistance at 11,900, as expected, and reversed to come down till 11,790 in just 45 minutes! Nifty closed the day at 11,834, up 95.75 points or 0.82% but surprisingly under the opening range.

Bank Nifty opened the day at 23,083 and went up very similarly to Nifty. After 1.45pm, the index came down sharply from 23,450 and touched a support near 23,050. After gradually recovering, the index of banks closed at 23,191, up 226 points or nearly 1%.

Nifty IT was clearly the best performing sector of the day. With good news from the houses of India’s top IT companies, hoping you got many easy trades from this sector. Nifty Pharma saw late stage buying to become the next best performing sector of the day.

European markets opened in green and saw a sell-off in a similar time as Nifty. Now, they are back to trading in green. Asian markets closed mixed for the day.

News Picks

Shares of TCS closed at Rs 2,818.45, up 3.02% after the IT company saw amazing quarterly results beating all expectations.

Wipro shares jumped up 7.34% to Rs 359.90 to become today’s top gainer. This came after the news of the company’s board considering a buyback, very similar to that of TCS.

Mazagon Docks IPO allotment status is out. Check if you got it, here. If yes, then consider your investment made you at least 80-100% richer. You can also check the status of UTI AMC IPO here.

The CEO of Kansai Nerolac has come on record to say that sentiments are positive for them as September auto sales rise, and since automobile paint contributes 20-25% to overall revenue of the company.

Tata Consumer Products featured in the Top Losers list, closing at Rs 489, down 3.18%. If you have been tuning into The Stock Market Show, you may have noticed that this was indeed an easy catch.

Automobile stocks continued to move up, as discussed by us yesterday. Can watch for a reversal now.

Markets Ahead

Nifty has formed a red candle in its 1 day chart, after a continuous uptrend. Is this the reversal point for the index. Or will the benchmark index keep moving up to 12,000 levels if global sentiments are positive?

A US stimulus will charge up the stock markets, and RBI’s monetary policy is also set to be announced tomorrow, so keep a watch of that

As we talked in yesterday’s article, Nifty Bank gave good movement above 23,000. Hope index traders made profits!

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty opened the day at 11,679, near yesterday’s high of 11,680, with a slight gap-up tracing SGX Nifty. Interestingly, the index took support at 11,630 after forming two red candles and shot back up. With good support from Reliance, Nifty was able to shoot up till 11,750 very quickly. For the rest of the day, Nifty traded between 11,690 and 11,750, before jumping up at 2.30pm to touch a day high of 11,763. Nifty closed the day at 11,738.85, up 76 points or 0.66%. Nifty closed in green for the 5th day in a row.

Bank Nifty opened the day very similarly to Nifty, at 22,811 and went down to take support near 22,600. After going back up till 22,300, it found strong resistance and went down. The index tested 23,000 multiple times through the day and closed at 22,964, up 111 points or 0.49%.

Nifty Auto was the best performing sector for the day. And as we can clearly see, no other sector specifically contributed to today’s jump.

Asian markets closed mixed for the day. European markets are trading a bit in red.

News Picks

Shares of Reliance finally moved, and featured in the top gainers list today. Reliance had confirmed yesterday that Abu Dhabi’s sovereign fund is investing Rs 5,512 crores in Reliance Retail for a 1.2% stake. Share prices closed at Rs 2,259.40, up 2.22%. A high of Rs 2,309 was hit early in the day. It pushed Nifty up the most, due to its very high weightage in the index.

Shares of TCS gained after 2.30pm from red to close at Rs 2,752.80, up 1.42%. Q2 results of the company are set to be announced today, after market hours.

Infosys has gotten an order from Switzerland-based company Mobile Health AG for electronically patient-reported outcomes platform – Consilium Care. Share prices closed at Rs 1,070.10, up 1.36% after coming back up just before the market closed. You can watch the stock for tomorrow also, as TCS Q2 results will affect Infosys also.

Shares of Blue Star, the air-conditioner manufacturer closed up 3.66% at Rs 642.70 after they announced a new range of products capable of virus deactivation, including COVID-19. 

Oil & Gas Stocks moved higher on news of CCEA approving guidelines for natural gas marketing. There are multiple news pieces on the oil sector from today. Will try to cover this in tonight’s Top 10 Market News.

From the top gainers list in Nifty, 3 were from the Auto sector. There was positive news coming from the quarterly sales of all top manufacturers. And with Navarathri, Diwali and Christmas coming up, the sector can be looked at for good swing opportunities.

Markets Ahead

One point to note is that India Volatility Index (VIX) ended higher by 2.2% today. This shows that markets are getting more volatile, and is an indication of caution for investors.

11,800 is a very strong resistance for Nifty and we may see the index taking resistance there. With tomorrow being the weekly expiry as well, we can expect some shocking moves by Nifty’s best stocks. Do not forget to watch out for TCS, which is flagging off the Q2 results season.

As we had talked in yesterday’s article, Banks continue to perform. 23,000 level is a big level for Bank Nifty and can be watched very closely.

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty opened the day with a huge gap-up at 11,607 and formed two red candles, which brought in fears of a quick fall to cover the gap. But the index went back up after taking support near yesterday’s high. After trading between 11,580 and 11,610 for most of the day, Nifty broke out near 2.30pm very strongly. The Nifty 50 index could not break the strong resistance of 11,680 and closed the day at 11,660.20, up 156.85 or 1.36%. 

Bank Nifty opened the day at 22,687 and strongly fell from there. The index of banks took support near 22,500 and upto just over 22,700 before coming back down again. The index formed strong green candles at 2.30pm and went up strongly to take resistance at 22,900. After consolidating near that range, Bank Nifty closed at 22,853, up 482 points or 2.16%.

Nifty Financial Services gained the most today, led by none other than HDFC itself. Realty stocks and Banks were also among the gainers. Nifty IT recovered from red to close in green.

Asian markets closed mostly in green today. European markets opened flat and fell over the day, might recover by the time US markets open.

News Picks

The HDFC twins lead the market’s rally today, with the parent company Housing Development Finance Corporation (HDFC) gaining 7.56% to close at Rs 1,920. This came on the heels of the announcement that the NBFCs individual loan disbursements in the Q2 of this financial year has reached 95% of the level in the year-ago period. Business is slowly getting back to normal, and this has given investors huge confidence.

HDFC Bank shares closed at Rs 1,143.15/share, up 2.58% after loans disbursed rose 16% to Rs 10.4 lakh crore while deposits increased 20% to Rs 12.3 lakh crore, YoY as of the month of September. 

Shares of Majesco, Infibeam Avenues and Aurionpro Solutions hit their respective 5% upper circuits after the positive sentiments around the company. You can find out exactly what it was from our morning article, here.

Share prices of Tata Motors closed at Rs 144.45, up 7.88% to become the day’s top gainer. After Tata Motors-owned Jaguar Land Rover (JLR) reported 11.9% YoY dip in sales in the second quarter this fiscal to 1.13 lakhs, The company’s sales, however, improved by 50% during the July-September quarter as against 74,067 units in April-June period of the current fiscal, JLR said in a statement. The subsidiary also turned cash positive, with good cash in hand. 

Finance (NBFCs) and Banks gained today, with most top gainers coming from these lists, including in the Nifty F&O list.

In yesterday’s GST meeting, Goa & Bihar had recommended increasing cess in tobacco products. This may affect businesses of ITC and Godfrey Philips in the short-medium term.

SBI has been giving more and more hints earlier that it wants to spinoff Yono into a separate subsidiary, and was today openly expressed by Rajnish Kumar SBI chairman. Yono is said to be a big asset for SBI once it is properly monetised. Can wait and watch.

Markets Ahead

Donald Trump returned to the White House today, early morning in Indian time. He was under observation after contracting Covid-19, and is still not fully cured yet. He set a grand entrance to showcase his might, and took to Twitter to share a video of him talking about how the virus is not to be feared, and that America has the best healthcare and medicines in the world. In behind-the-scenes footage captured by the general media, he was seen clearly struggling to breath and coughing. Although stock markets around the world have recovered following the hype of Trump’s comeback, his health is still considered to be a concern. With his age taken into consideration, there still exists a huge risk of his health deteriorating.

Banks are performing well today, and will continue to do so until the final Supreme Court judgement on Monday. 2nd quarter results are coming out, with positive commentary even from banks. Can catch this rally, but don’t forget to exit!

Hope you will all tune in to The Stock Market Show tonight. Keep watching this space for more.

Today’s Market Summarised

Nifty opened the day at 11,492 with a gap-up, even when Friday’s global markets were in red after The President of The United States, Donald Trump, was tested positive for Covid-19. The news that Donald Trump was ready to get discharged from the hospital may have helped. On its way up, Nifty consolidated near 11,550 in the morning. Nifty went on to touch its day high near 11,580 before eventually reversing trend and going down and taking support at 11,450. The index closed the day at 11,503.35, up 86.40 points or 0.76%.

Bank Nifty actually pulled down Nifty for the whole day after 11am. The index opened with a gap-up at 22,380 and moved up to a day high of 23,768 very soon. After forming a double-bottom pattern (The W-shape in the chart), Bank Nifty crashed to a day low near 22,250. The index recovered after 1.30pm to close at 22,370, up 125 points or 0.56%.

Nifty IT was undoubtedly the best performing sectoral index, with very positive sentiments surrounding the industry. TCS and Wipro were the top-gaining stocks in Nifty 50 today. Nifty Auto traded in slight red, mainly due to two-wheeler stocks not performing today. Nifty Metal had also performed well, with Tata Steel and JSWSteel featuring in the top-gainers list.

Asian markets mostly closed in green. European markets are currently trading in green, just under 1%, very similarly to Nifty.

News Picks

According to the Indian Government’s affidavit filed with the Supreme Court on Friday,  “it is willing to waive compound interest for all borrowers with loan amounts less than Rs 2 crore. This would be applicable for Micro, Small, and Medium Enterprises (MSME) loans and retail loans across most categories. The affidavit also suggested that this relief would be applicable to all borrowers “irrespective of whether someone had used the moratorium or not.” The court has given time till October 12th for every stakeholder to respond. Bank Nifty fell after hearing about this further delay.

Shares of TCS closed with a gain as much as 7.55% till Rs 2,713 after the company announced it is considering share buyback during its quarterly results meeting on October 7. It was the top gaining stock in Nifty 50 today. With this,TCS market cap has touched Rs 10 lakh crore, and it is only the second company to do so after Reliance Industries. Shares of IT companies have been showing constant growth since the last few months.

With rumours floating around that Wipro is also considering a share buy-back, shares of the company closed at Rs 335, up 7.01%.

Shares of Tata Steel jumped 4.93% to close at Rs 382.95 after Chinese steelmaker, Jingye expressed an interest in taking over Tata Steel‘s loss-making UK operations. The trading idea was shared on @fundfolio today. Did you catch it?

Shares of Reliance fell 0.46% in a bullish market to close at Rs 2,215. It seems like the Rs 33,000 crores raised by Reliance Retail is yet to reflect in the stock.

Shares of Angel Broking were listed on the exchanges today, at a lower price than the IPO issue price. This is the first IPO after March without any listing gain. Is the trend over, now?

Share prices of SAIL closed at Rs 35.25, up 3.22% after the company said that it is exploring new markets for the sourcing of coking coal with a view to reducing dependence on select countries for the raw material.

Route Mobile shares closed at Rs 825, up 5.30% after the company said it has completed the acquisition of intellectual property and its associated contracts from TeleDNA for over Rs 12 crores. The company had earlier had a listing gain of over 100% in their IPO.

Finance Minister Nirmala Sitharaman is going to hold a virtual media briefing on the outcomes of the 42nd GST Council meeting at 5:45 PM in New Delhi today. Keep watching marketfeed for an in-depth analysis.

Markets Ahead

Nifty has come back up to strongly reclaim 11,500. The index is expected to face some tough resistance near 11,600, but has broken a downtrend for the time being. Even with a correction, lots of short term supports have formed below. The verdict of interest on the interest case being delayed is surely irritating all Bank Nifty contracts traders. With such a huge case still in courts, Bank Nifty is expected to be volatile this week. Also, steel stocks are moving back up after they fell heavily in the last 2 weeks. Hoping you all will join us for the first episode of marketfeed’s ‘The Stock Market Show’ tonight on YouTube.

Today’s Market Summarised 

Nifty opened the day with a strong gap-up at 10,915 and unlike previous days of the week with gap-ups, kept on going up through the day. Even though the index briefly went below the day’s open at around 10am, it took support and went back. Between 12.15pm and 2.15pm, Nifty consolidated in a brief range, taking resistance at 11,000. During this period European markets opened mostly in red, but Nifty stayed sideways. After consolidating, Nifty went up to close at 11,050, up 244.70 points or 2.26%.

Bank Nifty opened  the day at 20,685 with a gap-up, but went straight down, unlike Nifty. Support was found by the index near 20,450 and from there it rallied up. It took some time for the index tracking major banks in the country to break 20,900 level, but when it did it went up fast. Bank Nifty closed the day at 20982.35, up 525.50 points or 2.57%. 

Even while Bank Nifty went up a lot, it was not the top gaining sector. Nifty IT and Nifty Auto were the top gaining sectors in a day were every sector closed in green.

Asian markets closed mixed for the day. European markets are trading in red, at the time of Indian market close.

News Picks

Shares of Tata Consumer Products, which was beaten down heavily in the last few days, recovered to close at ₹509.80, up 4.33%. The company was said to be thinking about a non-binding bid for the vending machine business of Coffee Day Enterprises, which is a very well-known and respected business.

Shares of Raymond gained 4.15% to close at ₹263.70 after the company said it will raise ₹100 crore through Non-Convertible Debentures.

Shares of IRB Infra closed at ₹108.70, up 6.36% after they said they would start toll collection on Yedeshi Aurangabad highway in Maharashtra post completion of the project. This was discussed in the morning marketfeed article by us, hope you too caught this jump.

Shares of TCS gained 3.67% to close at ₹2,417 after the company said it would be building the technology infrastructure for US and Canada-based women’s fashion retail chain, Maurices. But it was far from the top-gaining IT stock of the day with COFORGE going up 9.01% and HCLTech going up 5.30%. Hope you caught this jump!

Every sectoral index closed in red for the week, along with Nifty. Out of this, Nifty IT was the least affected (down by only 1%) while Nifty Media fell over 9%.

IDFC Bank proved to be another jackpot today, with trade closing at ₹29.25, up 8.33%. It was the only bank in the top gainers list from Nifty 50 and Nifty F&O activated stock. This sudden jump may have happened after they were said to lower their ownership in Suryoday Small Finance Bank, which is ready with the intention of making an (IPO).

Shares of Marico Ltd went up 3.18% to ₹353.5 after the company said it had sold its entire stake in the fitness app Revolutionary Fitness (Revofit).

Shares of Idea shot up 12.09% to ₹10.20 after Vodafone International Holdings BV won a case against the government under the India-Netherlands Bilateral Investment Treaty. The case was over an amount of ₹20,000 crore, and the relief in the mind of the promoters must be huge. Vodafone Idea Ltd had lost 48 lakh users in June, and is now losing customers for the eighth month in a row.

The new-comers into Nifty were welcomed with a mixed response. Divi’s Laboratories had a good start, closing at ₹3,051, up 1%. Meanwhile, SBI Life Insurance ended as one of the only 3 losers on Nifty 50,  closing at ₹795.45 and down 1%.

Shares of Infratel gained 7.69% to close at ₹182.10, and would have been the top gainer of Nifty 50 but it was kicked out of the index from today. Shares of another stock which was kicked out, ZEEL, also closed up 3.65%, at ₹197.30 for the day. Too late to shine.

Shares of Bajaj Finserv closed at ₹5783.60, up 6.60% to close as Nifty’s top gainer. It broke a long losing streak to breakout above many levels. The company had announced its new subsidiary yesterday, Bajaj Finserv Health Ltd who is set to bring advanced tech driven health plan to consumers through their new mobile app ‘Aarogya Care’.

Shares of Canara Bank closed at ₹87.30, up 4.80% after the Public Sector Bank announced a Qualified Institutional Placement of ₹2,000 crore. 

Markets Ahead 

Nifty closed strongly above the 11,000 mark today. It was the first day in green in 7 days. As we had talked in the morning article, the last time Nifty ctourched 10,800, it flew up to 11,500 in 4-5 days. Will it happen this time? Or will Nifty just find resistance at 11,100 and dive back down? Global cues are looking very unstable and I personally feel that if it remains the same, the bears are just taking a break before getting back into action. Obviously all this will change once Nifty reclaims 11,200. Keep watching this space for more.

Did you read the new article by marketfeed talking about how Mindtree was acquired forcefully by L&T in 2019? Check it out here.